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Ether Price Analysis
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Ethereum Forecast: ETH/USD About to Break?





Ether is preparing for the next move against the US Dollar while consolidating losses versus bitcoin. ETH/USD is forming a range of $325.00-$335.00.

Key Highlights

Ether is holding the $325.00 support against the US Dollar and poised for the next move.
ETH/USD is holding an important support near two connecting bullish trendlines at $325.00 on the 2-hour chart.
ETH/BTC is consolidating recent losses above the 0.042BTC support.

Technically, the 2-hour chart indicators are showing minor bearish signs.

Can Ether Price Hold $325?

In yesterday’s analysis, we discussed a crucial support area near $325.00. ETH/USD was successful in holding the stated $325.00 support and is currently trading in a range.

Looking at ETH/BTC, the pair started consolidating losses above the 0.042BTC support. However, the pair remains at a risk of more declines if it fails to hold the 0.042BTC support level.

Ethereum Price ETH USD Forecast

Starting with the 2-hour chart of ETH/USD, there are two bullish trendlines forming around $325.00. The pair recently attempted a downside break and just managed to hold $325.00.

It seems like there was a minor increase in selling pressure on Ether, as there was no push above $335.00. On the upside, there's a connecting bearish trendline forming with resistance at $332.00. A close above $332.00 should open the doors for more gains towards the next important hurdle near $340.00.

On the downside, Ether’s price must stay above the $325.00 support. Should there be a close below $325.00, there could be further declines toward $320.00 or even $305.00.

Ether Price Analysis Chart

Moving on to the 30-minute chart of ETH/USD, there is a range forming with support at $325.00 and resistance at $335.00. The pair will most likely trade in the mentioned range before it makes the next move either above $335.00 or below $325.00.

Looking at the current market sentiment, Ether is showing a few bearish signs below $332.00. The $325.00 support holds the key for the next break. Should $325.00 continues to hold declines in ETH/USD, the pair will most likely move higher in the near term.

Important Resistance Levels

$332.00 and $340.00

Important Support Levels

$325.00 and $320.00

2-hour RSI

The RSI is moving up and down around the 50 level.

2-hour MACD

The MACD has moved into the bearish zone with no real momentum.

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.

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